The value of Tasmania’s overseas exports totalled $2,451.8 million in 2002-03. This was an increase of 2.7% on the previous financial year. Exports for Australia decreased by 4.7% during the same period. In 2002-03, the value of Tasmania’s exports was 2.1% of the Australian total.

TASMANIAN MERCHANDISE EXPORTS, Value

Value

Change over previous year

Years

$m

%

1998-99

2,019.2

-5.5

1999-2000

2,214.5

9.7

2000-01

2,435.4

10.0

2001-02

2,387.8

-2.0

2002-03

2,451.8

2.7

Source: ABS data available on request, International Trade data base.

Since a large proportion of Tasmania’s production is export oriented, the Tasmanian economy can be severely affected by movements in the value of commodity exports, which are susceptible to movements in world commodity prices, and Australian dollar exchange rates.

Due to its small size, Tasmania’s economy is reliant on a few key industries and hence overseas exports are concentrated in a handful of commodities. The biggest single export contributor in 2002-03 waszinc(16.8% of the total value of exports) followed by aluminium, metalliferous ores and metal scrap, then fish, crustaceans and molluscs. This group of goods together accounted for nearly half of the total value of Tasmanian exports.

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